Briefly Business:S&P sees no end to banks’ woes; pegs NPAs at 4.4%

Oct 24 2013, 03:58 IST
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SummaryIndian banks will continue to face asset quality troubles till March 2015: S&P.

S&P sees no end to banks’ woes; pegs NPAs at 4.4%

MUMBAI: Indian banks will continue to face asset quality troubles till March 2015, and the gross non-performing assets (NPAs) in the system will grow to 4.4 per cent by then, global credit ratings agency S&P has said. pti

India trims exposure to US govt securities

Washington: India trimmed its exposure to US government securities to $57 billion in August, the lowest in four months. The holding of US treasury bills is down by as much as $1.9 billion compared to July when it stood at $58.9 billion. pti

FIPB to consider Tata-SIA proposal today

New Delhi: The Foreign Investment Promotion Board (FIPB) will on Thursday take a call on allowing Singapore Airlines to tie up with Tatas for setting up a full-service airline, besides 29 other foreign direct investment applications. pti

‘US Shutdown cost 1,20,000 jobs’

Washington: The recent government shutdown and debt default crisis hit the US economy so badly that it cost the country 120,000 jobs and wiped out 0.25 per cent of economic growth for the fourth quarter, the White House said. pti

Nissan recalls over 1,88,000 SUVs

Detroit: Nissan Motor Co is recalling more than 1,88,000 Nissan and Infiniti SUVs worldwide to fix faulty brake control software. The recall covers Nissan Pathfinders from 2013 and 2014, as well as the 2013 Infiniti JX35 and the 2014 QX60. ap

Yes Bank, Austrade to explore agri-business

NEW DELHI: Yes Bank has signed a memorandum of understanding with Australian Trade Commission (Austrade) to explore trade opportunities in agri-business sector. ens

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